War against Ukraine: More than 20 global firms quit Russia in past month, report reveals

More than 20 international companies left Russia in April – one of the highest levels in a year, according to data from the Kyiv School of Economics.

Among the big names were the luxury brand Mercedes-Benz AG, the fast food restaurant chain KFC, the video game company Electronic Arts (EA), and heat pump maker Viessmann.

Since the latest report from KSE Institute, dating firm Match – which runs the Tinder app – has also said it will exit Russia by the end of June, citing the need to protect human rights.

Last month KSE Institute identified 22 new exits, taking the total number of exits observed since the beginning of Russia’s invasion to 233. It said the 233 companies, however, accounted for 27.6 per cent of the personnel employed in foreign companies in Russia.

Tinder owner Match has become the latest global firm to exit Russia.

Many big name brands, such as fast food giant McDonald’s, pulled out of Russia shortly after the country’s invasion of Ukraine in February last year. However, others have been slower to take action. KSE Institute said 1,700 global firms still remain active in the Russian market.

Eleanor Nichol, executive director of B4Ukraine, a global coalition of civil society organisations that aims to block access to the economic resources behind Russia since the invasion of Ukraine, welcomed the decision by Match.

She said: “We are pleased that Tinder owner Match Group has rightly recognised the threat to human rights in Ukraine posed by direct or indirect financial support to [Vladimir] Putin’s regime and committed to withdrawing from the Russian market.

"We hope that other companies who remain in Russia and with whom we engage do the right thing, and stop funding the senseless war against Ukraine.”

Match said in an annual impact report this week: "We are committed to protecting human rights. Our brands are taking steps to restrict access to their services in Russia and will complete their withdrawal from the Russian market by June 30, 2023."

B4Ukraine said international firms which remain active in the Russian market include the French supermarket chain Auchan Retail, US multinational Procter & Gamble, and German wholesaler Metro and French cosmetics firm Yves Roche.